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NATGAS: Henry Hub Near 10% Higher

NATGAS
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Henry Hub has extended today’s rally due to cold weather expectations for the eastern and central regions of the US. However, but front month remains below last week’s high of $3.509/mmbtu.

  • US Natgas DEC 24 up 9.4% at 3.42$/mmbtu
  • US Natgas MAY 25 up 4.1% at 3.07$/mmbtu
  • Lower 48 natural gas demand is near normal at 82.6bcf/d today, according to Bloomberg. Lower 48 is expected to see a drop in average temperatures into the end of the month but could recover during the second week of the outlook.
  • The NOAA 6–14-day forecast shows below normal on the east coast but above normal on the west.
  • US LNG export terminal feedgas supply is estimated at 13.57bcf/d today, BNEF shows and marginally above the average from the previous week.
  • US domestic natural gas production is estimated at the highest since August at 103.8bcf/d today, according to Bloomberg, compared to an average of 102.9bcf/d over the previous week.
  • Export flows to Mexico are estimated at 6.0bcf/d today, according to Bloomberg.
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Henry Hub has extended today’s rally due to cold weather expectations for the eastern and central regions of the US. However, but front month remains below last week’s high of $3.509/mmbtu.

  • US Natgas DEC 24 up 9.4% at 3.42$/mmbtu
  • US Natgas MAY 25 up 4.1% at 3.07$/mmbtu
  • Lower 48 natural gas demand is near normal at 82.6bcf/d today, according to Bloomberg. Lower 48 is expected to see a drop in average temperatures into the end of the month but could recover during the second week of the outlook.
  • The NOAA 6–14-day forecast shows below normal on the east coast but above normal on the west.
  • US LNG export terminal feedgas supply is estimated at 13.57bcf/d today, BNEF shows and marginally above the average from the previous week.
  • US domestic natural gas production is estimated at the highest since August at 103.8bcf/d today, according to Bloomberg, compared to an average of 102.9bcf/d over the previous week.
  • Export flows to Mexico are estimated at 6.0bcf/d today, according to Bloomberg.